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|**Contents**|Page|
|---|---|
|Trust Information|1|
|The Trustees' Report|2|
|Statements of Trustees' Responsibilities|4|
|Independent Examiners Report|5|
|Statement of Financial Activities|6|
|Statement of Financial Position|7|
|Notes to the Accounts|8 —16|
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|Rev. Gary Brown|Chairman|
|---|---|
|Rev. Fergus Pearson|Secretary|
|Rev. Robert Jackson|Trustee|
|Mrs Suzanne Cooper|Trustee|
|Ms Caroline Lowman|Bookshop Manager|
|Mr Ken Frazer|Treasurer|
||Bankers|:|Barclays Bank Plc|
|---|---|---|---|
||||30 Main Street|
||||Cockermouth|
||||Cumbria|
||||CA139LQ|
||Solicitors|:|Brockbank, Curwen, Cain & Hall|
||||44 Duke Street|
||||Whitehaven|
||||Cumbria|
||||CA28 7RT|
|Independent|Examiner|:|Ian Scott BA (Hons), FCA, DChA|
||||Saint & Co|
||||Chartered Accountants|
||||12/13 Church Street|
||||Whitehaven|
||||Cumbria|
||||CA28 7AY|
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||**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Total**|
|---|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**2021**|**2020**|
|**Notes**||**E**|**E**|**E**|**E**|
|**Incoming Resources**||||||
|Incoming resources from generated|funds:|||||
|Voluntary income|5,334|||5,334|3,090|
|Activities for generating funds:||||||
|Bookshop Rent Receivable||||||
|Income from Trading Activities 2||13,523||13,523|33,656|
|Investment Income & Interest:||||||
|Interest **N/S** Income Bond||||||
|Grants||20,169||20,169||
|Interest on Bank Account||||||
|Investment Re−distribution|||688|688|2,962|
|Total Incoming Resources|5,334|33,692|688|39,714|39,708|
|**Resources Expended**||||||
|Costs of generating funds:||||||
|Expenditure from Trad.Activ.2||22,537||22,537|41,532|
|Building Maintenance|||||1,109|
|Depreciation|400|||400|400|
|Insurance|352|||352|341|
|Investment Re−distribution|||||2,000|
|Gifts||||||
|Total Resources Expended|752|22,537||23,289|45,382|
|**Net Incoming Resources before**||||||
|**other recognised gains and losses**|4,582|11,155|688|16,425|(5,674)|
|Unrealised Gains/(Losses)|||3,106|3,106|(3,577)|
|on Investment Assets||||||
|Transfer between Funds|3,000|(3,000)||||
|**Net movement in Funds**|7,582|8,155|3,794|19,531|(9,251)|
|**Reconciliation of funds**||||||
|Fund Balances brought forward||||||
|at 1 April 2020|43,207|(21,821)|32,753|54,139|63,390|
|**Fund Balances carried forward**||||||
|**at 31 March 2021**|50,789|(13,666)|36,547|73,670|54,139|
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||||**Total**|**Total**|
|---|---|---|---|---|
|||**Notes**|**2021**|**2020**|
||||**£**|**£**|
|**FIXED ASSETS**|||||
|Tangible Fixed Assets||5|11,240|11,665|
|Investments||6|16,547|12,753|
||||27,787|24,418|
|**CURRENT ASSETS**|||||
|Stocks||9|24,224|23,466|
|Debtors||10|48,836|45,651|
|Investments|||||
|Cash at Bank and in Hand||11|24,285|8,735|
||||97,345|77,852|
|**CREDITORS —**amounts falling due within one year||12|51,462|48,131|
|**NET CURRENT ASSETS**|||45,883|29,721|
|**NET ASSETS**|||73,670|54,139|
|**CAPITAL FUNDS**|||||
|Recoupment Fund||8|16,547|12,753|
|Endowment Fund||8|20.000|20.000|
||||36,547|32,753|
|**INCOME FUNDS**|||||
|Restricted
−Trust General Fund|||50,789|43,207|
|Restricted
−Bookshop Accumulated Fund|||(13,666)|(21,821)|
||||37,123|21,386|
||||73,670|54,139|
|Approved by the Board of Trustees on the
and signed on its behalf by|_,_|_It_|day of _N a , , , , , c __
2022||
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|Depreciation is calculated on the written down value each year at the|following rates:−|
|---|---|
|Freehold Property|2% straight line|
|Bookshop Display Units and Bookshop|15%|
|Catering Equipment, Kitchen Equipment, Hardware||
|and Crockery, Bookshop Cassette Player and Office Equipment|20%|
|Other Fixed Assets|25%|
|Computer|33%|
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|**Profit and Loss Account**||||
|---|---|---|---|
|||**2021**|**2020**|
|**Turnover**||13,523|33,656|
|Cost of Sales||8,678|21,786|
|**Gross Profit**
**35.8 %**|(2020: 35.3%)|4,845|11,870|
|**Administrative Expenditure:**||||
|Salary||14,926|14324|
|Wages||||
|Pension Costs||634|578|
|Printing and Stationery|||38|
|Postages and Return Carriage||70|135|
|Telephone||900|897|
|Repairs and Renewals||644|210|
|Xero Fees (Accountancy package)||94||
|Rates & Water Charges||264|472|
|Lighting and Heating||1,257|1,091|
|Cleaning||95|181|
|Depreciation||25|24|
|Insurance||352|340|
|Audit & Accountancy Fees||2,007|1,155|
|Bank Charges & Interest plus Credit Card||494|617|
|Training Costs|||215|
|Travelling Expenses||||
|Advertising and Brochures||||
|Refreshments|||58|
|Miscellaneous Expenses||37|11|
|||21,799|20,346|
|Miscellaneous Income|CAP rent|600|600|
||Furlough|7,340||
||Grants|20,169||
|**Net Profit for the year**||11,155|(7,876)|
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|**URCHASE ANALYSIS**|||||
|---|---|---|---|---|
|||Cost Price|Selling|Price|
||2021|2020|2021|2020|
|Books and Bibles|4,768|12,992|7,585|20,455|
|Recorded Stationery and Crafts|1,700|4,093|2,581|5,912|
|Cards and Posters|2,050|4,146|3,197|6,734|
|Stamps & Vouchers|160|555|160|555|
||8,678|21,786|13,523|33,656|
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|---|---|---|---|---|
|Trust General and Endowment Funds:|Land and|Catering|Domestic|Total|
||Buildings|Equipment|Equipment||
|Cost:|||||
|Balance at 1 April 2020|20,000|1,011|1,784|22,795|
|Additions|||||
|Balance at 31 March 2021|20,000|1,011|1,784|22,795|
|**Accumulated Depreciation:**|||||
|Balance at 1 April 2020|8,400|1,011|1,784|11,195|
|Charge for year|400|||400|
|Balance at 31 March 2021|8,800|||11,595|
|**Net Book Value 2021**|11,200|−|−|11,200|
|**Net Book Value 2020**|11,600|||11,600|
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|**Bookshop Fund:**|Display|Office|Computer|Total|
|---|---|---|---|---|
||Units|Equipment|Equipment||
||£|E|£|£|
|Cost|||||
|Balance at 1 April 2020|1,217|1,417|552|3,186|
|Additions|||||
|Balance at 31 March 2021|1,217|1,417|552|3,186|
|**Accumulated Depreciation:**|||||
|Balance at 1 April 2020|1,177|1,392|552|3,121|
|Charge for year|14|11||25|
|Balance at 31 March 2021|1,191|1,403|552|3,146|
|**Net Book Value 2021**|26|14||40|
|Net Book Value 2020|40|25||65|
||||−||
|**Total Net Book Value 2021**||||11,240|
|Net Book Value 2020||||11,665|
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|tional Dividends received during the year were as follows:|||
|---|---|---|
||**2021**|**2019**|
||**E**|**£**|
|Charinco Accumulation Shares — cashed April 2013|||
|Charifund Accumulation Shares|688|962|
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|**Units**||**Cost**|**Market Value**|
|---|---|---|---|
||Merrill Lynch:|||
|471.899|Charinco Accumulation Shares|4,278||
||M & G Securities:|||
|175.000|Charifund Accumulation Shares|4.278|16.547|
|||£8.556|16.547|
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|||**2021**|**2020**||
|---|---|---|---|---|
|||**E**|||
|Market Value 1 April 2020||12,753|17,368||
|Dividends Reinvested||688|962||
|Net Unrealised Investment|||||
|Gains/(Losses)||3,106|(3,577)||
|Funds Redistributed|||||
|Withdrawals|||(2,000)||
|**Market Value 31 March 2021**||16.547|12,753||
|**Historical Cost at 31 March 2021**||4,278|4,278||
|**ANALYSIS OF NET ASSETS BY FUNDS**|||||
||**Unrestricted**|**Restricted**|**Endowment**|**Total**|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**E**|**E**|**E**|**E**|
|**Fund Balances at 31 March 2021**|||||
|**are represented by:**|||||
|Tangible Fixed Assets|(8,800)|40|20,000|11,240|
|Investments|||16,547|16,547|
||(8,800)|40|36,547|27,787|
|**Current Assets:**|||||
|Stock||24,224||24,224|
|Debtors|48,712|124||48,836|
|Investments|||||
|Cash at Bank and in Hand|8,018|16,267||24,285|
||56,730|40,615||97,345|
|Current Liabilities||51,462||51,462|
|Transfers between Fund|3,000|(3,000)|||
|**Total Net Assets**|50,930|(13,807)|36,547|73,670|
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|8)|**ENDOWMENT FUNDS ANALYSIS**||||||
|---|---|---|---|---|---|---|
|||**Balance**|**MOVEMENT OF FUNDS**|||**Balance**|
|||**31 March**|**Dividends**|**Gains/**|**Re−dist.**
**With**|**31 March**|
|||**2020**||**Losses**|**drawals**|**2021**|
|||**E**|||||
||Permanent Endowment Fund|20,000||||20,000|
||Recoupment Fund|12,753|688|3,106||16,547|
|||32,753|688|3 106||36,547|
|9)|**STOCK**||||||
||||||**2021**|**2020**|
||||||**`£`**|**`£`**|
||Books and Bibles||||11,471|10,660|
||Tapes, Videos and Compact Discs||||994|1,039|
||Crafts||||4,678|4,720|
||Cards||||7,081|7,047|
||Stamps||||−||
||||||24,224|23,466|
|10)|**DEBTORS**||||||
||**Trust Accounts**||||**2021**|**2020**|
||||||**`£`**|**`£`**|
||Due from HMRC||||450|_|
||Due from the Bookshop||||48,262|45,262|
||||||48,712|45,262|
||**Bookshop Account**||||||
||Trade Debtors||||124|389|
||Prepayments||||−||
||||||124|389|
||||||=
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=
=|====|
||**Total**||||48,836|45,651|
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||**Bookshop**|**2021**|**2020**|
|---|---|---|---|
||Cash at Bank|16,087|2,210|
||Cash Float|30|30|
||Cash in Hand|||
||Petty Cash|150|150|
|||16,267|2,390|
||**Trust**|8,018|6,345|
||**Total**|24,285|8,735|
|12)|**LIABILITIES — AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
||**Trust Account**|**2021**|**2020**|
||Accruals|||
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||**Bookshop Account**|||
||Trade Creditors|816|870|
||Sundry Creditors|70||
||Inland Revenue|811|825|
||Due to the Trust|48,262|45,262|
||Accruals|1,503|1,174|
||**Total**|51,462|48,131|
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